What is today's Bitcoin price?
Bitcoin has now completed its 11th straight day outside the "Fear" zone on the Crypto Fear and Greed Index, extending its longest stretch since late March. What is today's price?
What is today's Bitcoin price?
Today's Bitcoin price reached $23,955, its highest level of the year. It has now dropped marginally to $23,687 as of this writing. Meanwhile, sentiment is solidly in the Greed zone, with a score of 61, its highest level since bull run peak on around 16 November, 2021, when it was about $65,000.
Will the Bitcoin price last?
Despite the coin's recent strong rebound, market players continue to discuss whether the current price rise is part of a bull trap or whether there is a genuine opportunity for a bull run.
The current rise has brought many more holders back into the green. 64% of BTC investors are currently profiting, according to statistics from the blockchain intelligence portal IntoTheBlock. According to on-chain analytics firm Glassnode, those who initially purchased BTC in 2019 are also back in profit.
What will be today's BTC price?
The average first-time purchase price for BTC investors in 2019 was $21,800, implying that those investors are up nearly 9% at $23,687.
Meanwhile, according to a survey conducted on 29 January by crypto market platform CoinGecko, 57.7% of 3,725 respondents expect BTC will reach $25,000 this week, while just 21.2% believe BTC will fall below $22,000.
Analyst views on BTC resurgence
Dr Jeff Ross, the founder and CEO of Vailshire Capital, also gave a technical analysis, predicting that a short-term spike toward $25,000 is possible.
On 29 January, Blockware's head analyst Joe Burnett warned his 43,900 Twitter followers that BTC will not reach and surpass its all-time high of $69,000 until after the second halving event, which takes place in March 2024.
According to Lyn Alden, a macroeconomist and financial consultant, there may be significant danger ahead, with potentially risky liquidity circumstances predicted to jolt the market in the second half of 2023.
Author: Emmanuel Baiden
7 years experience within the financial services sector most notably in Sales, Trading, research and writing articles within the crypto space. I have a bachelor's degree in International Business and a Master's in Investment and Risk Finance . I am also an associate member of the Chartered Institute for Securities and Investment.